New apartment construction set for West Chester

WEST CHESTER – Construction on a new apartment complex on Chestnut street is set to begin following the demolition and move of Poly Clean Laundromat in late February.

Named Chestnut Lofts, the 60-unit apartment complex is a project of StanAb L.P. of local developers Tony Stancato and Vic Abdala. Final land development plans were approved by council in November of last year.

The complex will be built on 115 and 117 East Chestnut Street between the blocks of Matlack and Walnut streets. The coin operated laundry facility there will be moved to the western edge of the borough at 501 Hannum Avenue, the former site of GRT Auto Sales, beginning next month.

Once the Chestnut site is cleared, construction on the apartment building is scheduled to begin in early April with an anticipated completion and move-in time of spring 2014.

“It’s a great location because it’s only two blocks from the downtown yet it’s still in a residential section so you don’t have the same street noise and things you get from downtown,” Stancato said.

The target demographic for the project is for 25- to 35-year-olds.

Planning for the apartments began about a year ago though the developers have owned the properties on Chestnut Street for two years.

In the planning process, Stancato and Abdala said they worked with a focus group to discuss what was important to their target market.

Scancato and Abdala are the previous owners of the Greentree Building on Gay Street which they sold last year. In 1995, the developers redeveloped the former Woolworths Department Store at the corner of High and Gay street and leased the first floor to Iron Hill Brewery. The placement of that restaurant marked the beginning of a wave of development in the downtown.

“We learned a lot from owning the Greentree building,” Stancato said, which they owned for 11 years.

Though the units were smaller and older, he said they learned a lot about the market and what amenities renters demanded.

“There is a whole new dynamic going on in this age group,” Abdala said. “When Tony and I were that age, our focus was on homeownership, everybody wanted to own a home. But now with this last big drop-off in the housing market there is a whole new segment coming up and a lot of them have no desire to own.”

Abdala said they understand their target audience wants high-end housing, but are a transient group.

According to the developers, the building itself is designed around the social network of the demographic featuring open spaces that supports more of a community lifestyle. In addition to an open lobby, lounge and fire pit, the building features a bridge system around a center core rather than long narrow hallways.

All units in the complex are one bedroom and run about 550-square-feet. Abdala said rent on the units will start at $1,150.

The developers said what will set the building apart is the commitment to the brick style and design of other buildings in the borough, but with a more modern, edgier and fresher look.

“We are respecting the history with the colors and the brick but it’s built in 2013 and that’s the idea,” Stancato said.

Through the design process, Stancato said there were some who did not totally agree with the design. He said they understand not everyone will agree, but they are sensitive to their opinions and worked to listen to suggestions to the point where some changes were made.

Last year, the developers among others in town took part in a study conducted by the Urban Land Institute. Among other initiatives to improve the borough, the study highlighted a need for upscale housing in the downtown.

“In order to take it to the next step you have to get the balance, that’s why you need the quality residential,” Stancato said.

The developers said they enjoy committing to projects in the borough because of the stable market and various such as the county building, university, quality dining and employment that make it unique.

Stancato said they know it’s to their benefit to feed into the existing character and charm of the area and maintain it in the borough, though progress is important.

“People were afraid when the automobile came out that the horse was going to go by the wayside, it was going to be the ruination of civilization,” Stancato said. “In a similar way, but not to the same extreme, I think people are looking at progress and saying it’s going to be the ruination of our town, but I think there are the right checks and balances in place that will guard against that.”